Finance News

JobKeeper and JobSeeker Updates

Major adjustments have been made to well known JobKeeper and JobSeeker programs recently, but what exactly has changed?

JobKeeper 2.0: JobKeeper will be reduced from $1,500/fortnight to $1,200/fortnight for Full-Time workers. On January 3^rd 2021, this will further reduce to $1,000/fortnight. For Part-Timer workers, payments will halve to $750/fortnight before falling to $650/fortnight in 2021.

All initial changes will take effect from the end of September 2020.

JobSeeker 2.0: Jobseeker will see it’s coronavirus supplement decrease from $550 to $250/fortnight from the end of September 2020.

Time to Buy?

Despite challenging economic times, potential home buyers can be encouraged by certain incentives to brighten purchasing prospects. Dramatically low rates due to the RBA’s expansionary monetary policy means current and future mortgage holders can feel confident.

Numerous Government incentives including the First Home Loan Deposit Scheme, HomeBuilder and First Home Owner Grants are designed to assist in home purchasing. Each come with their own features and advantages as you can see through the links below:

First Home Loan Deposit Scheme: https://www.nhfic.gov.au/what-we-do/fhlds/

HomeBuilder: https://treasury.gov.au/coronavirus/homebuilder
First Home Owner Grant: http://www.firsthome.gov.au/

HomeBuilder: https://treasury.gov.au/coronavirus/homebuilder

On top of this, falling housing prices represent attractive purchasing possibilities compared to the pricing levels seen in late 2019. A 0.8% value slide in June (for capital cities) forms part of a consistent downward trend, opening greater options for those in a position to buy.

If you are looking to purchase, or would simply like to discuss your options, please get in touch with us!